Broadcasting
MultiChoice Hits Record Profit with Huge Increase in DStv Subscribers
MultiChoice Group (MCG), Africa’s leading video entertainment company, has revealed a big increase in trading profit and subscribers on DStv, its pay-TV service in its latest financial results, ended 31 March 2021 .
The group increased its 90-day active linear pay-tv subscriber base by 1.4m to reach 20.9m households, split between 8.9m in South Africa and 11.9m in the Rest of Africa (RoA).
This represents an accelerated 7% growth year-on-year (YoY), driven by heightened consumer demand for video entertainment products, continued penetration of the mass market and an easing of electricity shortages in southern Africa.
Revenue was resilient, growing by 4% (4% organic) to R53.4bn.
This performance, coupled with a firm focus on cost containment and a R1.5bn (R2.7bn organic) reduction in trading losses in the Rest of Africa translated into a 28% (44% organic) increase in trading profit to R10.3bn.
Core headline earnings, the board’s measure of sustainable performance, was up a meaningful 32% YoY to R3.3bn, while free cash flow grew a solid 10% to R5.7bn.
The group reported R8.5bn in cash and cash equivalents at year-end. Combined with R4bn in undrawn facilities, this provides R12.5bn in financial flexibility to support dividends and growth initiatives.
“The COVID-19 pandemic taught us more about the art of the possible,” said Calvo Mawela, chief executive officer.
“We started the year confronted with severe disruptions to our programming schedules, bleak macro-economic forecasts for many of our markets and sharply weaker currencies. In the face of these challenges, our teams rallied together – this helped us deliver on all our key performance metrics and provide more value to our shareholders by declaring a R2.5bn dividend.“
The group continued its differentiation strategy by stepping up its investment in local content.
Despite production stoppages and travel restrictions brought about by the pandemic, it produced 19% more content than last year – a sizeable 4 567 hours.
As a result, the total local content library now exceeds 62 000 hours. Some 42% of the group’s general entertainment spend was on local content and it remains on track to reach its target of 45% by FY22.
To help manage US dollar-based costs, two major international content agreements (and several smaller ones) were renegotiated into South African rand (ZAR). The group also launched 11 new local language channels across sub-Saharan Africa, completed five new co-productions with global content producers and sold 16 of its series to international buyers.
In addition to compelling local stories, MCG continues to broadcast the best of sport. This year, the group renewed the rights to the English Premier League and UEFA Champions League and also secured broadcasting rights to the FIFA World Cup 2022 in Qatar.
On the international content front, it maintains mutually beneficial relationships with its studio partners, and has successfully added access to Netflix, Amazon Prime and more recently YouTube on its DStv Explora Ultra decoder.
In addition to the new products and services launched during the first half of the year (including Showmax Pro, DStv Communities, DStv Rewards and ADD Movies), the Group expanded its financial services portfolio, going beyond offering pure decoder insurance to include funeral cover, subscription waiver and debt waiver products.
“We have a highly engaged base of 20.9m subscribers and with an average of five people per household, this helps us reach approximately 100 million people. We see great opportunity to keep enriching the lives of our customers by expanding our entertainment ecosystem with innovative offerings that will also enhance our revenue prospects,” commented Mawela.
A major shake‑up rocks viewers and subscribers of DSTV/GOTV as many channels are set to shut down and be removed on January 1, 2026.
The trigger for the upcoming shut‑down is a breakdown in negotiations between the owners of multiple global channels and the pay‑TV operator.
As of December 2025, the deal between Warner Bros. Discovery (WBD) and DStv/GOtv has expired and the two parties have not reached a renewal agreement.
Without a new carriage/distribution agreement, the channels belonging to WBD risk being pulled off the DStv/GOtv line‑up.
This is the most significant content cutback the service has seen in years.
The affected channels are:
Discovery Channel
TLC
Cartoonito
Cartoon Network
CNN International
Food Network
The Travel Channel
TNT
Investigation Discovery
Real Time
HGTV
Discovery Family
Paramount Africa is officially shutting down at the end of December 2025, drawing the curtain on more than two decades of operations in South Africa and Nigeria.
The company, which once reached over 100 million viewers across 52 African territories, confirmed it will close its doors as part of a massive global restructuring at its parent company, Paramount Global.
This is the same Paramount Africa behind channels like BET, MTV, MTV Base, Comedy Central, Nickelodeon, and more.
Its digital footprint has also been significant, with millions of monthly page views, social media engagements, and content partnerships across Africa.
But despite that scale, rising costs and a global strategic reset have caught up with the business.
Paramount’s retrenchment has been building for months.
Earlier this year, plans to launch a standalone Paramount+ app in South Africa were quietly shelved.
Then in August, the company said its content would remain available only via DStv and Showmax.
And last month, MultiChoice confirmed that BET Africa and MTV Base will disappear from DStv and GOtv on January 1, 2026, as Paramount Africa winds down entirely.
The shutdown is tied to aggressive cost-cutting after Paramount’s merger with Skydance. The company is targeting a 15% reduction in global staff and $3 billion in savings.
International divisions, including Africa, have taken the hardest hit as the business pivots away from linear TV and doubles down on a more streamlined streaming-first model.
At the same time, the global media landscape is being shaken by Warner Bros. Discovery’s chaotic auction. Netflix, Paramount, and Comcast have all submitted fresh bids for WBD, with some offers reportedly focusing on the studios-and-streaming division, home to HBO, HBO Max, DC, and Warner Bros. Pictures.
Analysts say the crown jewel bundle could go for as much as $70 billion, a deal that would reshape Hollywood and accelerate the decline of traditional TV.
DStv subscribers may lose access to 12 major Warner Bros. Discovery (WBD) channels, including CNN International, Discovery Channel, TLC, and Cartoon Network, from Jan. 1, 2026, if MultiChoice and WBD fail to conclude a new distribution agreement.
DStv
MultiChoice, now owned by Canal+, issued a notice to customers on Monday, warning that its current carriage deal with WBD will expire on Dec. 31, 2025, and negotiations to renew the contract remain inconclusive.
“While discussions between the parties continue, no agreement has been reached at this stage. If this remains unchanged, several Warner Bros. Discovery channels may no longer be available on DStv from Jan. 1, 2026,” the company said.
The channels at risk include Discovery Channel, CNN International, TLC, Discovery Family, Real Time, TNT Africa, Food Network, HGTV, Investigation Discovery, Cartoon Network, Cartoonito, and Travel Channel.
The development comes amid subscriber losses for MultiChoice, which has shed 2.8 million active linear subscribers over the last two financial years.
This includes 1.2 million customers lost in 2025 alone, representing an 8 per cent decline across South Africa and the rest of Africa.
In Nigeria, MultiChoice has lost 1.4 million subscribers in the past two years, largely due to repeated subscription price increases, according to Nairametrics.
The broadcaster is also set to lose additional content in the coming months. Paramount Africa will discontinue BET Africa and MTV Base from Jan. 1, 2026, while CBS Reality and CBS Justice will cease operations on Dec. 31, 2025.
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